Sharing Daily Discoveries About Personal Finance And Business Topics

Giving Away So Much Money Just For Promises Early On

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I had an interesting conversation with a person today where just about one year ago when I last talked to him he was trying very hard to get his business project off the ground. Just when he seemed to be getting some momentum a company approached him with a proposition where in exchange for 40 percent of his revenue they would provide him with resources and connections to help him grow faster. This was a pretty big organization too and so he agreed immediately.

As he was growing it didn’t seem like they were doing much. However, they were taking a large chunk from him. After his contract expired he dropped them and was expressing how his life feels so much different where the other company isn’t taking a large chunk of his income. Heat least earns an extra $2000 a month because of this as an example.

This is one of those things that people tell you not to do but in the moment it just seems like the right thing to do for your business huh? I guess at times like these it can be important to surround yourself with others who do the same thing as you because many times all one is looking is for more support backing which your business colleagues can often do. Either that or make a contract that is fair where they have to guarantee to give you something as well that you actually need.

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